Jun 02 2011 |
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SNR Denton's Islamic Finance Team Advises on Multiple Sukuk Issuances
LONDON/ABU DHABI, June 2, 2011--SNR Denton announced today its Islamic Finance practice has been simultaneously advising on a number of Sukuk (Islamic bond) issuances from the Middle East region.They include the following:
- US$400 million Trust Certificates due 2016 issued by
SIB
Sukuk Company II Limited on behalf of
Sharjah Islamic Bank
. We acted for HSBC, Standard Chartered and Liquidity House as Joint Lead Managers.
- US$750 million Trust Certificates due 2016 issued by IDB Trust Services Limited on behalf of Islamic Development Bank . We acted for HSBC, Standard Chartered, Deutsche Bank and BNP Paribas as Joint Lead Managers.
- A private placement of trust certificates issued by a confidential issuer. We acted for the sole lead manager.
"In 2010 we suggested that the sukuk markets were thawing out. These deals indicate that 2011 could be an even busier year." says Sapte. "The fact that our team has been advising on a number of recent deals demonstrates the capabilities of our Islamic finance team throughout our extensive office network."
London partner David Cohen and lawyer Gareth Burton acted for the Delegate on the deals. Citi was Delegate on the SIB transaction and Law Debenture on the Islamic Development Bank transaction.
Clifford Chance advised Sharjah Islamic Bank and King & Spalding advised the Islamic Development Bank on the respective deals.
SNR Denton's Islamic Finance practice advises on the full range of Shari'ah-compliant activities, including Sukuk, transactional banking, project finance, M&A, structured finance, regulatory reform, funds, private equity, investment funds and takaful. The team is international, and our unique Middle East footprint sets us apart from the competition, with offices in Abu Dhabi, Amman, Doha, Dubai, Cairo, Kuwait, Manama, Muscat, Riyadh and associate firms in Beirut and Istanbul.
-Ends-
About SNR Denton
SNR Denton is a client-focused international legal practice delivering quality and value. We serve clients in key business and financial centers from 60 locations in 43 countries, through offices, associate firms and special alliances across the US, the UK, Europe, the Middle East, Russia and the CIS, Asia Pacific and Africa, making us a top 25 legal services provider by lawyers and professionals worldwide. Joining the complementary top tier practices of its founding firms -- Sonnenschein Nath & Rosenthal LLP and Denton Wilde Sapte LLP -- SNR Denton offers business, government and institutional clients premier service and a disciplined focus to meet evolving needs in eight key industry sectors: Energy, Transport and Infrastructure; Financial Institutions and Funds; Government; Health and Life Sciences; Insurance; Manufacturing; Real Estate, Retail and Hotels; and Technology, Media and Telecommunications. Please see snrdenton.com for more information and Legal Notices.
Media Contact:
Elyse Blazey
+1 212 398 7643
elyse.blazey@snrdenton.com
Holly Rees
Account Executive
Citigate Dewe Rogerson
3 London Wall Buildings
London Wall, EC2M 5SY
Holly.Rees@citigatedr.co.uk
Tel: +44 (0) 207 638 9571
Direct: +44 (0) 207 282 1085
© Press Release 2011
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